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Sona Comstar To Launch Rs. 6000 Crore IPO
Auto components' firm Sona Comstar is set to launch an IPO for raising around Rs. 6000 crore. The company is backed by American PE giant Blackstone that has a 66 percent stake in the firm while the remaining is held by Sunjay Kapur, chairman of the company.
This will be the largest IPO from an auto components firm and the second by the Blackstone backed firm. Earlier,in January, Blackstone backed Aadhar Housing Finance filed papers with SEBI to come up with an IPO for raising Rs. 7300 crore.
Investment banks Credit Suisse, Nomura, JP Morgan, JM Financial, and Kotak Mahindra Capital, are the book-runners for the issue.
Sona Constar is into designing, manufacturing and supplying of automotive systems and components including Differential Assemblies, Differential Gears, Conventional and Micro-Hybrid Starter Motors and Motor Control Units to automotive OEMs across the US, Europe, India and China, for both electrified and non-electrified powertrain segments, according to the company website.
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